Ted

Thank you for all replies. Are these fees reasonable: Restatement of defined benefit plan - $2,000 Annual maintenance (custodial fee) - $2,600 If not, where can I shop around?

I'm a sole proprietor and I open a defined benefit plan for my company (myself) in 2015. The plan administrator is telling me that I need to restate my plan by 2019 and there is a hefty fee on top of the annual maintenance fee. Given that I haven't changed anything on the plan and it's only for me a single employee, must I really restate the plan?